In 5 years the share of illegal transactions in Bitcoin dropped from 90% to 10%
Lilita Infante, researcher in the division of cybertronian of Management on fight against drugs of the USA, said that the use of cryptocurrencies in illegal transactions over the past 5 years decreased in 9 times.
According to her, the use of crypto-currencies in criminal activities currently stands at about 10% of cases. However, 5 years ago, in 2013 with bitcoin was carried out 90% of the illegal monetary transactions.
Cryptocurrency has ceased to be criminalized and a risky asset, as in former times, but the regulators can make the market safer, according to Forbes. According to the author of the publication, the global trend in the regulation of the market, increasing the level of competence of participants and the growing number of professional investors had a favorable impact on the cryptocurrency industry as a whole and has reduced the number of financial crimes committed while using cryptocurrency. However, according to experts, in Cryptoprotected there is still a huge number of pitfalls, cultivates speculation in this field, and without the intervention of regulators to eradicate them is unlikely.
“Even if you have implemented the laws could substantially reduce the risks associated with cryptocurrencies, still, as in any other industry in the world of virtual currencies is still plenty of legal loopholes for illegal activities and speculation that put honest cryptoendoliths danger.
If you’re making payments in the cryptocurrency, participate in ICO or work on a particular blockchain platform, the company or the stock exchange — providers of services — I can say that working in the jurisdiction of Hong Kong or Japan, not to mention the contract with a third party, which is registered in Bermuda or the channel Islands. From the point of view of regulation, cooperation with offshore companies-intermediaries entails high risks, since they are not regulated by law to the same extent and lack of transparency in continental jurisdictions.
In kryptomere is dominated by speculators and not drug dealers or gangsters, concludes the publication. Cryptocurrencies and related business are much less risky fields of activity than they were even a few months ago, and this trend will undoubtedly continue. However, the growth of the security industry, according to Forbes, is more likely to contribute to the system of checks and balances, as well as a comprehensive global approach to monitoring systemic risk. Regulators and industry can work together to protect consumers and ourselves.”
We will remind, recently the cryptocurrency companies in the US (Ripple, Coinbase and Circle), legislators and venture capitalists met in Washington to discuss the regulatory framework and the legal status of digital assets and the collaborative drafting of a bill on the regulation of cryptocurrencies.
Note that, according to the Bank for international settlements (BIS), the bitcoin market is currently heavily influenced by newsflow that is associated with the regulation of the cryptocurrency industry.
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